"Opec will not increase production"
The mainstream commentary / market still does not question this. The assumption is taken then that Opec merely has to decide and then oil production can be increased.
Case can be given that
- they have been pumping for all they are worth since US$50 barrel
- their recoverable reserves could be incresed if extraction rates were slowed
- their increasing domestic demand is reducing oil for export at a far greater rate than depletion alone.
There may not be a linear relationship between CVN / oilers SP and US$ barrel, but it surely falls on the positive side of the fence. Just wait till OPEC come clean.
"Opec will not increase production"The mainstream commentary /...
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